StartupTalky

Tag: 1mg

  • Tata 1mg Startup Story: An Online Drug Delivery Platform

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

    An online pharmacy internet pharmacy, or mail-order pharmacy is a pharmacy that operates over the Internet and sends orders to customers through mail, shipping companies, or online pharmacy web portals. 1mg is a digital consumer healthcare platform, or an online pharmacy center, that makes healthcare accessible, understandable, and affordable.

    1mg was launched in April 2015 after Healthkart separated its generic drug search business, HealthkartPlus, and rebranded it as 1mg. It allows users to find information about medicines prescribed by doctors and also buy it online. Users can find medicines by ailments, class, companies, and brands.

    Let’s go through Tata 1mg’s Startup Story and get a glance at Tata 1mg funding, business model, company profile, turnover, growth, revenue model, founders & more.

    1mg – Company Highlights

    Startup Name Tata 1mg
    Headquarters Gurugram, Haryana, India
    Industry Healthcare
    Founded 2013
    Founders Prashant Tandon, Gaurav Agarwal, Vikas Chauhan
    CEO Prashant Tandon
    Area Served India
    Website www.1mg.com

    About Tata 1mg and How it Works?
    Tata 1mg – Logo and its Meaning
    Tata 1mg – Founder and History
    Tata 1mg – Mission
    Tata 1mg – Business Model
    Tata 1mg – Revenue and Growth
    Tata 1mg – Funding and Investors
    Tata 1mg – Acquisitions
    Tata 1mg – Competitors
    Tata 1mg – Awards and Recognitions
    Tata 1mg – Challenges Faced
    Tata 1mg – Future Plans

    Tata 1mg – About and How it Works?

    Tata 1mg is a developer of an online drug delivery platform intended to make healthcare accessible, understandable, and affordable.

    The company delivers medicines and health products online along with lab test booking, online consultations, and authentic information from healthcare professionals, thereby enabling customers to meet all their healthcare needs in one platform hassle-free.

    1mg.com brings to us, an online platform, which can be assessed for all our health needs. With AI being hailed as the technology of the future, every startup is trying to adapt it in some capacity to streamline and optimize their offerings. Tata 1mg recently started offering a feature, ‘Ask a Doctor,’ which is an intuitive chatbot that asks questions to accurately identify what the problem may be and shows the medicinal specializations under which the ailment may fall. Users can choose from one of them and a doctor, who can diagnose the problem via chat, is assigned to you.

    Tata Digital, a subsidiary of Tata Sons Private Ltd. acquired a major stake in 1mg to further widen the former’s digital offerings on June 10, 2021. Though the amount is still not disclosed by the source, the total valuation of 1mg was $400 million.

    Tata 1mg had the highest number of downloads (184.2K) among telemedicine startups during Jan 1-Feb 10, 2021, as per AppTweak data. It has invested in expanding its cold chain and in contact with vaccine makers for partnerships to participate in COVID-19 vaccination (when the government allows the private sector to get in)

    HealthKart | Company Profile |
    Company Profile is an initiative by StartupTalky to publish verified information
    on different startups and organizations. The content in this post has been
    approved by the organization it is based on. Healthcare is going to fundamentally transform in years to come. Technology
    advancements are at th…
    StartupTalkySarika Anand

    Tata 1mg – Logo and its Meaning

    Tata 1mg is all about medicines and the basic unit for a medicine’s strength is measured in milligrams (mg). And to top it all, 1 MG Road was where the company’s first office was located.

    Tata 1mg Logo
    Tata 1mg Logo

    Tata 1mg – Founder and History

    Gurugram-headquartered e-pharmacy startup Tata 1mg (earlier as HealthKartPlus) was founded by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan in 2013.

    Founders of 1mg - Gaurav Agarwal, Vikas Chauhan, and Prashant Tandon
    Tata 1mg Founders – Gaurav Agarwal, Vikas Chauhan, and Prashant Tandon

    The website was started as HealthKartPlus, a platform for users to have all the information about the medicines. The platform became so popular and got a huge response from the public and users asked the company to start the delivery of the medicines too. Thus, Tata 1mg was started.

    Tata 1mg was launched in April 2015 after Healthkart separated its generic drug search business, HealthkartPlus, and rebranded it as 1mg. The company has three business verticals — Pharmaceuticals, Labs, and Doctors.

    Healthcare Startups With Best Employee Wellness Programs
    Explore startups that enhance workplace well-being, offering solutions for physical, mental, and emotional health support in modern workplaces.
    StartupTalkyGurmeet Walia

    Tata 1mg – Mission

    The company’s mission is to make healthcare accessible, understandable, and affordable for one billion Indians through a comprehensive website and mobile app. Tata 1mg enables consumers to learn more about their medicines in addition to finding more cost-effective substitutes.

    Tata 1mg – Business Model

    Tata 1mg provides services like diagnostics, medicine, preventive healthcare, and online Q&A to its users. Apart from this, they also have native ads on their platforms for pharma companies. In the past year, The company has expanded its pharmacies to 600 cities and also expanded its product range to include homeopathy and Ayurveda range.

    The company used its app to spread information on medicines. They are using push notifications and emails to expand and let people know that they are living in their city. The company also uses offline advertisements depending on the city. They use newspaper advertisements and health camps to spread information. However, a majority of their marketing is digital.

    Tata 1mg makes money with online diagnostics and lab testing services. These account for a majority of their annual revenues. Online medicine delivery, B2B healthcare solutions, and subscription-based care plans form up the rest of their yearly finances.

    Tata 1mg – Revenue and Growth

    Tata 1mg Financials 2023 2024
    Operating Revenue INR 1627 crore INR 1968 crore
    Total Expenses INR 2894 crore INR 2303 crore
    Profit/Loss INR -1255 crore INR -313 crore
    1mg Financials FY24
    Tata 1mg Financials FY24

    In FY24, Tata 1mg’s operating revenue increased by approximately 21%, rising from INR 1627 crore in FY23 to INR 1968 crore. Total expenses decreased by about 20%, dropping from INR 2894 crore to INR 2303 crore. As a result, losses reduced significantly by nearly 75%, improving from INR 1255 crore to INR 313 crore.

    EBITDA

    FY23 FY24
    EBITDA Margin -71.66% -10.85%
    Expense/₹ of Op Revenue ₹1.78 ₹1.17
    ROCE -341.99 NA

    Tata 1mg saw strong and steady growth in FY23 without spending too much cash. FY23 was also its first full year under Tata Digital.

    1mg’s operating revenue jumped 2.5 times to INR 1,627 crore in FY23, up from INR 627 crore in FY22, as per its financial reports. Earlier, in FY22, the company had nearly doubled its revenue from INR 309 crore in FY21.

    As per regulatory filings, Tata 1mg’s total revenue was INR 369.3 crore in FY20, which is over a 77% jump from the company’s revenue which stood at INR 209.1 crore in FY19.

    Selling medicines online hasn’t been all easy as this space witnessed regulatory challenges back in 2019. While the Delhi High Court had ordered all state governments to ban the online sale of medicines in January last year, the central drug regulator had asked states to enforce a court directive prohibiting online medicine sales this month.

    Amidst this regulatory uncertainty, Gurugram-based Tata 1mg has demonstrated decent growth with a 2.8X jump in operating revenue. Registering 180% growth, it has posted a total operating revenue of INR 240.85 crore.

    The company collected Rs 39.45 crore from offering marketplace services and INR 68.3 crore through online diagnostics and lab testing services in the year ending March 2019. It also made INR 67.8 lakhs from collection charges.

    Importantly, the overall revenue from services grew 90.2% from INR 41.8 crores in FY18 to INR 79.5 crores in FY19. All services together accounted for a little over one-third of the total revenues generated by Tata 1mg during last fiscal in 2019.

    ImpactGuru – Business Model, Funding, Founders, Careers, wiki
    Would you have been able to imagine a crowdfunding startup to be able to meet
    all your healthcare need? This is where ImpactGuru comes in. In a survey carried
    out by NSO in July 2017-June 2018, it was found that only 14% of the rural
    population and 19% of the urban population had health expenditure …
    StartupTalkyShubham Kumar

    Tata 1mg – Funding and Investors

    Tata 1mg has raised a total of $230.8 million in funding over 16 rounds. Their latest funding was raised on Sep 6, 2022 from a Corporate Round led by Tata Digital. This funding round made Tata 1mg a unicorn as the company was valued $1.25 and $1.30 billion after raising $40 million in funding. Tata 1mg is funded by 10 lead investors. Tata Digital is the most recent investor.

    Tata 1mg funding details are as follows –

    Date Round Amount Lead Investors
    September 6, 2022 Corporate Round $40M Tata Digital
    April 19, 2021 Debt Financing $13.3M Tata Group
    Jul 3, 2020 Debt Financing $17.8M –
    Jan 31, 2020 Venture Round $9.48M Bill & Melinda Gates Foundation
    Jun 28, 2019 Series D $70M Corisol Holding AG, International Finance Corporation
    Apr 5, 2019 Series D $10.3M Redwood Global Healthcare Fund
    Jan 1, 2019 Venture Round – InnoVen Capital
    Mar 1, 2018 Series C $10.1M Maverick Ventures
    Jul 26, 2017 Series C $15M HBM Healthcare Investments AG
    Jul 1, 2017 Series C $12.2M –
    Jun 30, 2017 Venture Round $10M HBM Healthcare Investments AG, Sequoia Capital India
    May 31, 2016 Venture Round – HBM Healthcare Investments AG
    April, 2021 Debt Financing $13.35M Tata Digital

    Tata 1mg – Acquisitions

    Tata 1mg has acquired 3 organizations. Their most recent acquisition was Dawailelo on Sep 1, 2017.

    Acquiree Name Date Amount About Acquiree
    Dawailelo Sep 1, 2017 – Dawailelo is a Varanasi-based healthcare startup that helps people connect with medical stores
    MediAngels Dec 14, 2016 – MediAngels delivers healthcare globally
    Medd.in July 5, 2016 – Medd.in is an online platform to book diagnostic and imaging tests

    Tata 1mg – Competitors

    Tata 1mg’s top competitors are Netmeds, Practo, Medlife, PharmEasy, Metarain Distributors Private Limited, HealthKart, CareOnGo, mChemist and BookMEDS.

    PharmEasy Success Story | Business Model | Revenue | Founders | Funding
    Company Profile is an initiative by StartupTalky to publish verified information
    on different startups and organizations. The content in this post has been
    approved by the organization it is based on. PharmEasy has developed a health care delivery platform to simplify and
    modernize the health care …
    StartupTalkyPurbalee Dutta

    Tata 1mg – Awards and Recognitions

    In 2014, just a year after they started off, Tata 1mg won the m-billionth award for m-health in South Asia. They were also recognized as the most promising healthcare startup by News Corp VCCircle. In 2016, Tata 1mg was acknowledged as the Best App in the medical category by Gmasa.

    They also won the award for the best online pharmacy in India at the International Quality Awards. They achieved the title ‘New Kid on the Block’ at the NDTV Unicorn Awards in the same year.

    Tata 1mg was recognized as one of the Top 50 ventures in the Smart CEO-Startup50 India 2017 program. By the year 2017, the company had grown by 600% in terms of the success of the Tata 1mg app and user engagement. They expanded their product range to encompass Ayurvedic medicines and homeopathy.

    Within the years 2016 and 2017, the company had raised 37 million dollars through 5 rounds of funding. In 2018, Tata 1mg won the BML Munjal Award for ‘Business Excellence through Learning and Development’. During the Content Leadership Awards in 2018, they won the title ‘Best Content in a Healthcare/Fitness App’. Tata 1mg was also recognized as the ‘Best Mobile Innovation for Health award ‘ at the India Mobile Congress.

    Practo’s Business model, Explained
    Practo is an Indian based company that is now established in about 15 countries.
    It is an application that works as a bridge between doctors and patients and is
    mainly focused on booking interactions with doctors. It was founded by 2 Indian
    B.Tech students, Shashank ND and Abhinav Lal. They aimed to…
    StartupTalkySandhya Raju

    Tata 1mg – Challenges Faced

    1mg was initially started as HealthKartPlus, a platform that aggregated medical information and sold alternative medicine to its users. The platform caught up quickly with the users and soon the users began asking for delivery of medicines to be included as well. At a time when information and awareness about medicines and lab tests were either minimal or non-existent, 1mg aimed to change it.

    Tata 1mg has a system in place where they onboard vendors onto the platform if they meet certain requirements like computerized inventory and invoicing, which makes end-to-end tracking easier for the customer. The startup can generate business even after strict government compliances which banned online pharmacies by making a prescription mandatory to make a purchase.

    Tata 1mg – Future Plans

    Aggressively moving towards its expansion plans, Tata 1mg has decided to expand the scope of its platform and is entering the alternate medicine space (AYUSH categories) through the acquisition of Homeobuy.com. Homeobuy is a web platform for homeopathy medicines.

    With this acquisition, Tata 1mg will re-brand the website to www.1mgAyush.com and make homeopathic & ayurvedic medicines available to customers in New Delhi. The Indian government has also been actively supporting and developing the AYUSH categories, as a strong system of medicine that has evolved over a long period of time.

    After Tata Digital’s acquisition of the majority stakes in Tata 1mg, the company announced that they are looking forward to promising 60-minute deliveries in selected locations around the country. Tata 1mg is known for 4-5 hour deliveries in a bunch of locations, which will also be extended to other locations as well.

    “We are the platform that stands for consumer health and we believe the alternate forms of medicines are equally important. Having seen the importance of these alternative forms of medicines and our government’s support in promoting them, we aim at creating an exhaustive platform for all health solutions. The business will continue to work on a marketplace network model and partner with quality vendors in this sector,” said Prashant Tandon.

    FAQs

    What is 1mg?

    1mg is a digital consumer healthcare platform that makes healthcare accessible, understandable, and affordable. It allows users to find information about medicines prescribed by doctors and also buy them. Users can find drugs by ailments, class, companies, and brands.

    Who is Tata 1mg founder?

    Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan are the founders of 1 mg company.

    Who is the CEO of 1mg?

    Prashant Tandon is the CEO & Co-Founder at 1mg.

    How does 1mg make money?

    1mg makes money with online diagnostics and lab testing services. These account for a majority of their annual revenues. Online medicine delivery, B2B healthcare solutions, and subscription-based care plans form up the rest of their yearly finances.

    Is 1mg an Indian company?

    Yes, 1mg is India’s leading consumer health platform.

    How do you order medication 1mg?

    You can send the list of medicines, your full address, contact number, and valid prescription to order@1mg.com.

    Does Tata 1mg provides franchise opportunity?

    Tata 1mg provides a franchise model, enabling individuals to partner with the brand and open their own 1mg store.

  • Top 12 B2C Ecommerce Websites Dominating the Indian Market

    ‌‌From Amazon to Pepperfry, the eCommerce industry thrives in India, especially in B2C eCommerce companies. In fact, India is ranked first in the fastest-growing eCommerce market globally, with an estimated market value of $16.6 trillion by 2022.

    B2C means business-to-consumer, which refers to the business model where the companies directly sell their products to consumers. The market offering B2C services has gained speed in recent years. According to the report by Grand View Research, the B2C eCommerce industry is set to reach a valuation of $7.65 trillion by the year 2028.

    This brings us to the article’s primary content, top B2C eCommerce companies across India. So, let’s get started.

    List of top B2C eCommerce companies in India

    Amazon
    Flipkart
    FirstCry
    Paytm Mall
    Snapdeal
    Myntra
    1mg
    LimeRoad
    Shopclues
    Pepperfry
    BookMyShow
    Nykaa

    Amazon

    Founded 2013
    Founders Jeff Bezos
    Headquarters Seattle, Washington (USA)
    Category Ecommerce
    Website amazon.in

    Amazon Website
    Amazon Website

    When it comes to B2C eCommerce websites, Amazon tops the list. The company was initially started in the United States as an online bookstore and was later converted into a marketplace for other products. Initially, it was created as a platform where customers could purchase books on a wide range of subjects.

    With time, Amazon grew into an eCommerce site with monthly visitors of over 322.54 million, as per the 2010 data. And it became widely popular in the Indian eCommerce industry. Today, the company reached out to a total of 89 percent of the Indian audience.

    Flipkart

    Founded 2007
    Founders Sachin Bansal, Binny Bansal
    Headquarters Bengaluru, India
    Category Ecommerce
    Website flipkart.com

    Flipkart Website
    Flipkart Website

    Founded by two former Amazon employees, Binny Bansal, and Sachin Bansal, in 2007, Flipkart is a well-known privately hosted eCommerce website in India. After its highest acquisition of 16 billion in 2018 by Walmart, Flipkart now comes under the ownership of Walmart. The company owns 39.5 percent of the market share of the Indian eCommerce industry, with the most significant competition from none other than Amazon.

    Flipkart gained massive popularity due to its Big Billion Days Sale, where it reached a large audience base by offering huge discounts on its merchandise of all categories. With a solid online presence, Flipkart is considered one of the best eCommerce websites following the B2C business model.

    FirstCry

    Founded 2010
    Founders Amitava Saha and Supam Maheshwari
    Headquarters Pune, India
    Category Online Baby Products
    Website firstcry.com

    FirstCry Website
    FirstCry Website

    FirstCry is considered the best eCommerce platform for babies and children’s merchandise, following a B2C business model. The product quality and variety offered by FirstCry are excellent and worth all the praise. It provides more than 200,000 products from over 5,000 manufacturers. FirstCry was introduced in 2010 by Amitava Saha and Supam Maheshwari.

    In addition to its eCommerce platform, Firstcry also operates physical stores across the country, which allows customers to experience its products before making a purchase.

    The website has also launched its own private-label brands to offer quality products at affordable prices. FirstCry has over 400 outlets across India, covering cities like Hyderabad, Bangalore, Mumbai, Chennai, Kolkata, and many more.

    Paytm Mall

    Founded 2016
    Founders Vijay Shekhar Sharma
    Headquarters Bengaluru, India
    Category Ecommerce
    Website paytmmall.com

    Paytm Mall Website
    Paytm Mall Website

    Yes, you heard it right. Paytm isn’t limited to digital payments and financial services; it has also expanded to eCommerce. In 2016, Paytm introduced an online shopping platform based on the B2C business model, Paytm Mall.

    From all kinds of clothing to exclusive gadgets to home furnishing, you can find everything at Paytm Mall. As per the reports published by findly, Paytm Mall is estimated to receive 60 million orders in a month.

    Paytm Mall offers high-quality products at affordable pricing. Plus, you can use different coupons for discounts and cashback offered by Paytm Mall.

    Snapdeal

    Founded 2010
    Founders Kunal Bahl, Rohit Bansal
    Headquarters Gurgaon, India
    Category Ecommerce
    Website snapdeal.com

    Snapdeal Website
    Snapdeal Website

    With an estimated monthly visitor count of 56.41 million, Snapdeal is considered an eCommerce giant with a B2C business model. It’s an online shopping platform with various products from different categories such as electronics, clothing, home decor, books, beauty, and many more. Among these, Snapdeal’s electronic category is the largest shopped one.

    This eCommerce platform was launched in 2010 and has attracted top investors such as Softbank, Alibaba Group, and Foxconn.

    Myntra

    Founded 2007
    Founders Mukesh Bansal, Ashutosh Lawania, Vineet Saxena, Sankar Bora, and Raveen Sastry
    Headquarters Bengaluru India
    Category Ecommerce
    Website myntra.com

    Myntra Website
    Myntra Website

    Myntra is among the premier fashion, lifestyle, and home eCommerce platforms with a B2C business model. It has around 48.03 million monthly visitors. It earned impressive profit and popularity after the acquisition of Jabong.com, its competitor in the market.

    Myntra is known for its fantastic collection of high-end fashion from top brands all around the globe and as per 2012 data, Myntra added more than 350 Indian and Foreign brands to its manufacturer’s list. Plus, it has many private clothing labels, such as HRX and Moda Rapido, which are exempted from expansion vastly.

    The website is also a fashion retailer with a wide range of products from international to local brands in all sections.

    Estimated Retail Ecommerce Sales in India in Million US Dollars from 2016-2022
    Estimated Retail Ecommerce Sales in India in Million US Dollars from 2016-2022

    1mg

    Founded 2013
    Founders Prashant Tandon, Gaurav Agarwal, Vikas Chauhan
    Headquarters Gurugram, India
    Category Healthcare
    Website 1mg.com

    1mg Website
    1mg Website

    1mg is categorized as an Indian online pharmacy founded in 2015 by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan. 1mg offers a wide range of healthcare products including medicines, healthcare devices, health supplements, personal care products, and more. The website features products from over 3,000 brands and has over 2 lakh products available on its platform.

    1mg also provides features such as online medicine ordering, diagnostic tests booking, and wellness package booking to provide a comprehensive healthcare experience to its customers. In addition to healthcare products and services, 1mg also provides health-related content through its blog and social media channels.

    LimeRoad

    Founded 2012
    Founders Prashant Malik, Manish Saksena, Ankush Mehra, and Suchi Mukherjee
    Headquarters Gurugram, India
    Category Fashion Ecommerce
    Website limeroad.com

    Limeroad Website
    LimeRoad Website

    Headquartered in Gurugram, LimeRoad is a pretty famous fashion and clothing eCommerce website following B2C business models. The company was founded in 2012 with the specification of online shopping. It was founded by Prashant Malik, Manish Saksena, Ankush Mehra, and Suchi Mukherjee.

    In its initial three funding rounds, the company raised 50 million USD. LimeRoad is the first-ever women’s social shopping platform in India. It also offers a wide range of categories dealing with men, women, and kids.  

    Shopclues

    Founded 2011
    Founders Sandeep Aggarwal, Radhika Aggarwal and Sanjay Sethi
    Headquarters Gurugram, India
    Category Online Shopping
    Website shopclues.com

    Shopclues Website
    Shopclues Website

    Shopclues is another online shopping company based in Gurugram, Haryana, India, founded by Radhika Aggarwal, Sandeep Aggarwal, and Sanjay Sethi in 2011. With revenue of above $40 million and 1080+ employees, the company has established a strong image in the marketplace. It’s a privately owned company that specializes in online shopping.

    ShopClues operates on a marketplace model where it connects buyers and sellers on its platform. The website has over 5 crore products from 9 lakh+ merchants across 3,300+ categories. Apart from the regular products, ShopClues also offers several exclusive features like Sunday Flea Market, Wholesale, and IndiMarket which showcase products from small and medium-sized businesses in India.

    Pepperfry

    Founded 2011
    Founders Ambareesh Murty & Ashish Shah
    Headquarters Mumbai, India
    Category Home Decor and Furniture
    Website pepperfry.com

    Pepperfry Website
    Pepperfry Website

    Pepperfry is a popular eCommerce B2C website in India that primarily focuses on home decor and furniture. The website was launched in 2012 by Ashish Shah and Ambreesh Murthy. Pepperfry has become one of the leading online shopping destinations for furniture and home decor in India.

    They offer products from over 10,000 sellers and has over 1.2 lakh products available on its platform. It also has more than 100 outlets across 57 cities in India. The website also has a feature called “Studio Pepperfry” which is a concept store where customers can get a hands-on experience with the products before making a purchase.

    BookMyShow

    Founded 2007
    Founders Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande
    Headquarters Mumbai, India
    Category Online Ticket Booking
    Website bookmyshow.com

    BookMyShow Website
    BookMyShow Website

    BookMyShow is a popular eCommerce B2C (business-to-consumer) website in India that primarily focuses on providing online ticket booking services for movies, events, and other entertainment activities. The website was launched in 2007 by Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande.

    BookMyShow offers a range of services including movie ticket booking, event ticket booking, sports event ticket booking, play and theater ticket booking, and more. The BookMyShow website features listings of events, movies, and activities happening in various cities across India. They also provide reviews and ratings of movies, events, and activities to help customers make informed decisions.

    Nykaa

    Founded 2012
    Founders Falguni Nayar
    Headquarters Mumbai, India
    Category Cosmetics, Beauty, Personal Care
    Website nykaa.com

    Nykaa Website
    Nykaa Website

    Nykaa is a popular eCommerce B2C website in India that primarily provides beauty and wellness products to its customers. It was launched in 2012 by Falguni Nayar. Nykaa offers a wide range of beauty and wellness products including makeup, skincare, hair care, personal care, fragrance, wellness, and more.

    The website features products from over 1,500 brands and has over 2 lakh products available on its platform. It also provides content related to beauty and wellness through its blog and social media channels.

    Women-Led Indian Startups That Turned Unicorns
    Women are emerging in Entrepreneurship. There are many startups led by women that turned into unicorns. Here is the list of Women-Led Unicorns.
    StartupTalkySejal Raval

    Conclusion

    In conclusion, with the massive adaptation of machine learning, consumers are getting more personalized services from B2C eCommerce companies. The best thing about B2C websites is the level of convenience and security they provide consumers.

    It shows products based on the previous purchasing history of the users to fulfill their unique needs. These above-mentioned B2C eCommerce websites are truly extraordinary with their services and products. And because of this only, the competition within the eCommerce industry is relatively high, which is also the reason for its growth.

    FAQs

    Which is India’s number 1 eCommerce company?

    Flipkart is considered India’s number 1 eCommerce company with 39.5% of the market share from the Indian eCommerce industry.

    Is Zomato a B2C?

    Yes, Zomato is a B2C company.

    Who is the father of eCommerce in India?

    K Vaitheeswaran is considered the father of eCommerce in India.

    What are B2C website examples?

    Some of the B2C website examples are Amazon, Flipkart, Myntra, LimeRoad, Pepperfry, Shopclues, 1mg, Snapdeal, Paytm Mall, Firstcry, etc.

  • An Overview of the Telemedicine Industry in India 2022

    Do you know which industry saw a major boost during the COVID-19 Pandemic?

    During the outbreak where most of the industries were drastically falling, there was one industry that skyrocketed and acted as a catalyst for innovation.

    I am talking about the telemedicine industry.

    When the COVID-19 cases were increasing rapidly telemedicine was the only hope for the government and doctors to provide healthcare to the patients.

    According to Statista, in 2019 the telemedicine market size in India was around 829 million U.S. dollars.

    This figure is expected to reach 5.4 billion U.S. dollars by 2025.

    This huge figure shows us that the telemedicine industry will be growing at a rapid speed.

    But, where does India stand in the telemedicine industry?

    Let’s find out.

    What is Telemedicine?
    Telemedicine Industry in India During Pandemic
    Government’s Efforts to Strengthen Telemedicine Industry
    Teleconsultation Market on a Boom
    Top 3 Key Players in Telemedicine Industry in India
    Future of Telemedicine in India

    What is Telemedicine?

    When doctors use telecommunication technology like phone calls, email, SMS/chat, and video calling to diagnose and treat patients remotely it is known as telemedicine.

    Booking a video call consultation with a doctor using Practo or Pharmeasy or transfer of medical images between different hospitals for diagnosis are all examples of telemedicine.

    The above graph shows the telemedicine market size in India as per the data shared by DataLAbs. The market is estimated to cross 5.4 million US dollars by 2025
    The above graph shows the telemedicine market size in India as per the data shared by DataLAbs. The market is estimated to cross 5.4 million US dollars by 2025

    Telemedicine Industry in India During Pandemic

    Telemedicine is not a new concept in India. It was introduced by the Indian Space Research Organization (ISRO) in 2001.

    The Health Ministry also deployed a National Telemedicine Task Force in 2005 under the Ministry of Health and Family Welfare (MoHFW).

    But still many health centers and even Indians never took telemedicine seriously.

    Patients felt that they won’t get a proper diagnosis and treatment if they consulted a doctor via video calling and preferred meeting the doctor in person.

    Although when coronavirus happened in India everything completely changed.

    Within just 4 months of coronavirus hitting India, in June 2020, the country had already crossed the 5 lakh corona cases mark with a death toll of 15,619.

    Since India is the 2nd most populated country in the world coronavirus cases were increasing rapidly.

    There was a lack of health care, beds, and oxygen all over the country.

    Situations in rural areas were even worse. In rural areas hospitals needed 3-5 times more nurses and 5 times more paramedics.  

    During such severe times, telemedicine helped doctors in diagnosing patients virtually with just a smartphone or laptop.

    When the concept of social distancing started emerging people understood that telemedicine would guarantee them maximum safety against the virus.

    The behavioral pattern of people toward telemedicine completely changed.

    In India people usually visited doctors when they were sick. But, due to the outbreak people started emphasizing health checkups.

    People started accepting teleconsultation, teleradiology, telepathology, and e-pharmacy.

    A report by Practo suggested that the online consultation had increased by 500 percent between March 1 to May 31, 2020.

    Over 2 crore Indians accessed healthcare online during those 3 months as per the report.

    This shows how much terror the coronavirus created in the minds of Indians within a month.

    Practo witnessed 80% of first-time telemedicine users on its app and a 67% drop in in-person visits. Indians consulted doctors virtually 2 times per month.

    As per the survey conducted by EY Parthenon's life, the above graph shows the comparison and willingness of different age group people to have a telehealth visit in percentage
    As per the survey conducted by EY Parthenon’s life, the above graph shows the comparison and willingness of different age group people to have a telehealth visit in percentage 

    Reasons How these Startup sectors bloomed during Covid 19 lockdown
    In the times, where there is economic slowdown these Startup sectors witnessed growth during lockdown grew exponentially well.
    StartupTalkyPV Vyshnavi

    Government’s Efforts to Strengthen Telemedicine Industry

    To be very frank, the Indian government never made any efforts to strengthen the means of telemedicine around the country.

    But, due to the coronavirus, the government started deploying telemedicine services across various health centers.

    You will be shocked to know that the Indian government never released any guidelines on how telemedicine would work around the country.

    But, due to the drastic negative impact of coronavirus around the country, the government on 25th March 2020 issued ‘Telemedicine Practice Guidelines’ that provided a framework for the practice of telemedicine.

    These guidelines provided all the norms and protocols for the telemedicine practice like doctor-patient relationship, treatment, informed consent, continuity of care, privacy and security of patient’s details and medical records, and much more.

    The guidelines also mentioned which technology and tools will be used to treat patients.

    The government also developed a telemedicine app, eSanjeevani to give free OPD services to Indians. In March 2022, eSanjeevani completed 3 crore teleconsultations.

    List of IoT-based Healthcare Startups In India – [2021]
    Here is a list of the IoT-based healthcare companies that will help you to understand how IoT is transforming the healthcare industry today.
    StartupTalkyATHUL C K

    Teleconsultation Market on a Boom

    The teleconsultation market in March 2020 was $26 million which grew to $163 million in March 2021.

    It is expected for the market to grow by 72% which is about $836 million by March 2024.

    According to the ‘Outpatient Healthcare Market in India’ study by Praxis Global Alliance, the total number of consultations in India in FY2021 crossed 4 billion. Furthermore, $26 billion were spent on outpatient prescriptions.

    The report also found out that the outpatient doctor consultation spend is valued at $10.4 billion.

    General physicians are in high demand, accounting for 60 percent of the consultations.

    Top 3 Key Players in Telemedicine Industry in India

    There are many new startups emerging in the field of telehealth and telemedicine.

    Some of them have revolutionized the industry and many more are on the way to create a new norm for people.

    Let’s see some of the best Indian telemedicine companies.

    PharmEasy

    PharmEasy Website
    PharmEasy Website

    PharmEasy is a healthcare super app headquartered in Mumbai that provides consumers with a wide range of medicines, comprehensive diagnostic test services, and teleconsultations.

    Siddharth Shah founded this company in 2014.

    The company has 25 million registered users on its app.

    PharmEasy earned a revenue of $315.99 million in FY2021. The company has got total funding of $1.6B.

    In May 2021, the company acquired Medlife, another healthcare app that provides its users with pharmacy, diagnostics, and e-consultation.

    By acquiring Medlife, PharmEasy has become the largest healthcare delivery platform in India.

    TATA 1mg

    TATA1mg Website
    TATA1mg Website

    1mg was established in 2015 by the joint efforts of Prashant Tandon, Gaurav Agrawal, and Vikas Chauhan.

    The 1mg company provides healthcare services like e-pharmacy, diagnostics, e-consultation, and lab tests.

    The company is headquartered in Gurgaon, India.

    In June 2021, TATA Digital, a subsidiary of TATA Group acquired a 55% stake in the company.

    1mg has raised total funding of  $204.6M. In FY2021, the company recorded a revenue of Rs 357.9 crore.

    Practo

    Practo Website
    Practo Website

    Practo provides medicine delivery, online consultation, and diagnostic tests via Practo labs.

    It also has a comprehensive medical directory that has verified information about 1,00,000+ doctors.

    Shashank ND and Abhinav Lal founded this company in 2008. The head office of this company is in Bengaluru.

    Recently, the company has also started 50+ Practo Care Surgery clinics in six key cities (Bengaluru, Mumbai, Pune, Delhi-NCR, Hyderabad, and Ahmedabad).

    The clinics have experienced surgeons that provide General Surgery, Proctology, Gastrology, and Urology treatments to the patients using advanced medical procedures.

    Practo has total funding of $228.2M.

    Future of Telemedicine in India

    In September 2021, Prime Minister Narendra Modi launched ‘Ayushman Bharat Digital Mission’ to digitize the health ecosystem.

    Under this mission every Indian will receive a digital health ID which will contain details of their diseases, tests taken, doctors visited and the medicines taken.

    This ID will help hospitals, insurance companies, and citizens to access health records electronically.

    Citizens can get their health ID free of cost.

    Doctors will give digital prescriptions which will prevent unauthorized doctors from treating people.

    Another aim of the program was to establish Healthcare Professional’s Registry (HPR) and Healthcare Facilities Registry (HFR).

    These can allow electronic access to medical professionals and health infrastructures.

    A special announcement was made during the union budget by the government. The government allocated 86200.65 crores for the health sector with a hike of about 16% over Rs 73,931 crore in 2021-2022.

    The reason behind this huge hike was the coronavirus.

    The government wants no stone unturned when it comes to strengthening the country’s health sector.

    Another effort made by the government was to roll out the Tele Mental Health Programme. The prime focus of this program was to build a network of 23 excellent telemental health centers.

    The National Institute of Mental Health and Neuro-Sciences (Nimhans) will be allocated as the nodal center.

    While the International Institute of Information Technology-Bangalore (IIITB) will provide technical support.

    This program was essential because most of the time mental health is ignored by a lot of people.

    Many people don’t even know that they are going through a mental crisis. The program will help in preventing mental issues across all age groups and genders.

    All these programs and the government’s increased funding in the healthcare sector will surely push the field of telemedicine in India to the next level.

    Conclusion

    As you can see, the telemedicine industry is growing at a rapid speed. In the future, you will see many people booking online consultations with doctors.

    Indians must adapt to this new method because telemedicine helps in saving costs and time.

    Most importantly, it also reduces the wastage of gloves and masks which are needed when doctors and patients meet in offline mode.

    This does not mean the traditional mode of patient-doctor meetings will disappear completely.

    It would still exist because complicated medical procedures cannot be done online.

    But, the government and people should help in boosting the development of telemedicine because coronavirus is still present.

    We will see many more variations of coronavirus in the future. During such uncertain times, we should have advanced technologies and a robust framework for telemedicine.

    FAQs

    What is the value of the telemedicine market in India?

    In 2019, the telemedicine industry was around 829 million U.S. dollars. This figure is expected to reach 5.4 billion U.S. dollars by 2025.

    How many telemedicine companies are there in India?

    As per the data shared by industrywired.com, there are approximately 3225 health-focused startups in India for 2022 with many more in the progress.

    Is telemedicine an industry?

    Telemedicine allows health care experts to treat and observe patients remotely. After the pandemic, this field is expected to grow into a 250-billion-dollar industry.

  • 1mg Marketing Strategy – How It Used Content to Drive Sales

    Why can’t we shop for necessities such as medicine online, if we shop for clothes, food, and electronics? 1Mg, situated in Gurgaon, India, is an online marketplace of medicines. It offers e-pharmacy, diagnostics, online consultation, and health content, among other things. Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan launched it in April 2015.

    Medicines are available at a discount if ordered from the website or the mobile app. This makes healthcare a hassle-free experience. Every health-related product and medicine such as allopathic, homeopathic, and vitamin supplements are available.

    They also provide lab tests, and online doctor consultations that too 24/7 and collaborate with insurance companies to offer easy and affordable care to its customers, provide diagnostics, and a lot more.

    1Mg provides a wide range of healthcare services and allows you to do lab tests at home. 1mg currently has over 2000 tests and over 120 verified labs on its platform, and users can consult with specialists n 0ver 20 specialists.

    The Concept Behind 1mg
    Marketing Strategy of 1mg
    1mg Grandmaster Series Campaign
    Franchise Opportunities
    Marketing Channel Distribution
    Influencer marketing
    1Mg Marketing Strategy during Covid-19
    Successive Factors of 1mg

    The Concept Behind 1mg

    If people can buy clothes, shoes, food, groceries, and other products online. Why couldn’t they buy medicines?

    People are increasingly turning to the internet for information. The plan was to make all of the drugs available while also dealing with the expense of the medicines. Investors quickly became interested in their concept, and the company raised $6 million to put it into action and improve the technology. In June 2021, Tata Digital Ltd acquired a 55% stake in 1mg to form Tata 1mg.

    Marketing Strategy of 1mg

    The corporation used its app to disseminate drug information. They use push alerts and emails to spread the word about their presence in their community. Depending on the city, the company also uses offline advertisements. They disseminate information through newspaper advertisements and health camps. However, digital marketing accounts for the majority of their efforts.

    1mg, a Gurgaon-based e-commerce healthcare start-up, has launched its first campaign, Grandmaster Series, to honor unsung champions in the field of medicine.

    Tanmay Saksena, 1mg’s COO, spoke with exchange4media about the company’s marketing approach, ambitions, and upcoming obstacles – “We believe in ‘word of mouth,’ and want our services to be the focus of our marketing campaign. We do not invest in television commercials like the others, preferring instead to use online means. Because consumers respect our services, the majority of our growth has come from ‘word of mouth,’ and we plan to keep doing so. The Grandmaster Series outlines why we’re moving towards campaigns now. We want the entire world to know what we believe in and what our vision is”.

    1mg Grandmaster Series Campaign

    1mg came up with their first campaign called ‘Grandmaster Series’, which strives to recognize unsung champions in the field of medicine.

    The initiative, planned and managed by Humour me, emphasizes the Grandmasters or veteran medical practitioners from various specialties of medicine who are still practicing medicine and sincerely serving the community.

    The first video in this series featured Dr. Anand, a pediatrician who is still practicing in Mumbai at the age of 83. He is well renowned for his book on infant and toddler care, as well as his untiring advocacy for the benefits of breastfeeding. He is a firm believer in a more natural approach to childbirth.

    Dr. Anand is a firm believer in giving back to society and voluntarily donates his services to the underprivileged, the armed forces, personnel of the fire department and other emergency services, and teachers.

    ‘While dealing with healthcare, a consumer nowadays often feels helpless and is losing faith in the healthcare system – the trust deficit has become enormous and is a very unpleasant fact’, stated Mr. Prashant Tandon, founder, HealthKart and 1mg.

    1mg seeks to regain people’s trust in medicine and restore faith in the institution. It emphasizes transparency and makes people feel safe and secure when engaging with the healthcare system.

    By tying the brand 1mg to the idea that all it takes is 1 milligram of a step in the right direction to start the healing process, 1mg hopes to advance from economic to emotional leadership, and what better way to do so than to pay tribute to the profession’s grandmasters.

    Franchise Opportunities

    1mg Franchise Opportunities
    1mg Franchise Opportunities

    1mg introduced a franchise business opportunity as part of its strategy to make healthcare more accessible and economical. The ‘Sehat ke Sathi’ scheme is a franchising opportunity to get a medicine franchise at low costs in which each ‘Sathi’ is a 1mg lead generation partner and is responsible for empowering people in their communities to have quick and easy access to their best-in-class healthcare services.

    This has enabled over a hundred registered lead generation partners across the country to launch a medicine business, as well as incentivizing hundreds of other authorized lead generation partners to aid 1mg to reach advanced care in new territories. As a ‘Sehat ke Sathi’, you can work for a rapidly developing Indian healthcare startup.

    Marketing Channel Distribution

    Mode Percentage
    Direct 20.89%
    Referrals 0.55%
    Search 76.21%
    Mail 1.31%
    Display 0.46%
    Social 0.58%

    Influencer marketing

    To fully utilize the power and potential of influencer marketing, VURoll and 1Mg collaborated on a campaign that was a big success, with 1Mg’s audience awareness skyrocketing.

    The vision of 1Mg is to tap into a market, where the public is unaware of the brand’s health benefits. VURoll met its requirement of generating ROI by implementing influencer marketing on well-known social media networks such as Facebook and Instagram.

    Facebook and Instagram were used as communication channels since they are the most effective platforms for product reviews and feedback.

    Influencers highlighted the health benefits of items by using the 1mg product. VuRoll selected the most suitable influencers for the company from its extensive database, and the influencers were then divided into groups based on the number of specialty audiences and channel preferences.

    1mg Influencer Marketing
    1mg Influencer Marketing

    As soon as the influencers were on board, the 1mg team of specialists devised a campaign flow that would include a subtle mention of the brand and product, triggering interest on social media networks. The chosen influencers wrote thought-provoking posts and stories promoting the product while also sharing their personal experiences with the audience in a relevant way.

    Approach to Online Medicine

    1mg website offers
    1mg website offers

    On its mobile app and website, the company offers a discount on all kinds of medicines. The website, which was previously known as HealthkartPlus, was launched to provide consumers with all of the information they need regarding medicines and their prescriptions.

    The platform drew a lot of attention from the public and grew in popularity. Users asked the firm to begin delivering the medications, therefore 1mg was launched.

    Cadbury Marketing Tactics | Advertising Campaigns
    Cadbury’s Dairy Milk has revamped itself and maintained its popularity since decades. Get an insights of marketing & ad campaigns of Cadbury.
    StartupTalkyAnamika Mahapatra

    1Mg Marketing Strategy during Covid-19

    During COVID-19, the public’s desire for trustworthy, up-to-date information necessitated a content management system capable of both generation and dissemination.

    For 1mg, this entails a 24-hour effort from a team of medical specialists, doctors, designers, and brand and marketing professionals. Expert-driven, research-based, and non-manipulative information was delivered. 1mg then appointed a group of medical professionals, including doctors, and they were told that they would have to delve into COVID-19 for two months or more and report back with all pertinent and authentic material.

    1mg Capsules
    1mg Capsules

    To establish their own knowledge in areas such as diagnostics, treatment, and trials, the 1mg team collaborated with healthcare specialists working in the field of COVID-19.

    All research was gathered with input from trusted medical bodies such as the World Health Organization and the Centers for Disease Control and Prevention, as well as apex government organizations such as the Ministry of Health and Family Welfare and the Indian Council of Medical Research, to ensure the content’s credibility and authenticity.

    The content’s reliability was praised by a large number of people, and in a few cases, it was widely disseminated. 1Mg’s first piece was read over a million times, and others have been shared by Cabinet ministers, journalists, and even Bollywood stars. Swiggy, an online food delivery service, teamed up with 1mg to generate content about the dos and don’ts of online food ordering.

    Successive Factors of 1mg

    • Since its establishment, 1mg has provided outstanding service at the most affordable price to its consumers. They’ve also received a number of well-deserved awards over the years. 1mg got the mBillionth Award for m-health in South Asia in 2014, just one year after its launch.
    • In the Smart CEO-Startup 50 India 2017 program, 1Mg was named one of the top top 50 businesses. In terms of app success and user engagement, it has increased by 600 percent by the year 2017. They expanded their product line to include Ayurvedic and homeopathic remedies.
    • The startup raised 37 million dollars in five rounds of fundraising between 2016 and 2017.
    • The BML Award for ‘Business Excellence through Learning and Development’ was also given to 1mg in 2018.
    • They were named ‘Best Content in a Healthcare/ FitnessApp’ at the 2018 content leadership awards. At the India Mobile Congress, 1Mg was also named the “Best Mobile Innovation for Health Award.”

    Innovative Marketing Strategies of Rolex
    Rolex is a Successful luxury swiss watchmaker owned by the Hans Wilsdorf Foundation. Here are top marketing strategies employed by Rolex.
    StartupTalkyPratyusha Srivastava

    Conclusion

    Pharmaceuticals are extremely delicate and must be carefully handled and tracked, and there must be a system in place to assure the quality of the drugs on an online marketplace like this. Because the market is so large, there is a lot of rivalries. \

    1mg has a system in place that allows them to onboard vendors if they match certain criteria, such as computerized inventory and invoking, making end-to-end tracking easy for clients.

    The brand is also able to generate business even after the strict government complications which banned online pharmacies by making a prescription mandatory to make a purchase.

    1mg is India’s leading digital healthcare system and has grown 600% in the terms of app downloads and user engagement.

    FAQ

    What are the marketing strategies employed by 1mg?

    Influencer marketing, Video campaigns, and website offers are some of the strategies employed by 1mg.

    What is the business model of 1mg?

    1mg generates revenue by selling its online diagnostics and lab testing services, delivering medicines, and subscription-based care plans.

    Who is the owner of 1mg?

    Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan founded 1mg in 2015.

  • An Overview Of The Online Pharmacy Industry In India

    With the lockdowns restrictions brought over by the Covid Pandemic, most economic activities were paused, millions lost their job and many industries faced difficulties. But there were also some industries like Online gaming, Online grocery, Fintech, Telemedicine, Ed tech, online media that were boosted due to the pandemic. Another such industry that increased two fold is the e-pharmacy or online pharmacy industry.

    The e-pharmacy sector in India has grown because of the increased accessibility during a pandemic and many upcoming players like NetMeds, 1MG, EasyMedico and MedLife, Apollo Pharmacy. In 2019, the global e-pharmacy market is estimated to be more than $69.7 billion and is expected to grow 17% to more than $244 billion in 2027.

    Which is why 2021 is the year for the industry, as the e-pharmacy market in India is estimated to be over $512 million in 2018 and is estimated to grow at a CAGR of 63% to reach $3,657 million by 2022. The sector is also attracting many investors as over 70% users are willing to use e-pharmacy post the pandemic, according to RedSeer survey.

    In 2020, Covid 19 has pushed many consumers towards buying their medicines online. A report also shows that over 60 to 70% of the medicines that are ordered through e-pharma platforms are from chronic patients as it more affordable and accessible for them. The growth of e-pharmacy in India is evident due to the positive experience coupled with stronger adoption among low-income households.

    The E-pharmacy Industry in India
    Reasons behind the growth of the E-pharmacy Industry in India
    Benefits of E-pharmacy in India
    Challenges of the E-pharmacy Industry
    Top 6 e-pharmacy apps/websites in India
    Frequently Asked Questions

    Netmeds – Leading India’s Online Pharmacy Segment
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has been approved by the organization it is based on. The e-commerce industry has garnered immense popularity in India in a reallyshort span of time. …
    StartupTalkyLakshya Singh

    The E-pharmacy Industry in India

    Nowadays, many online industries are growing as people in the country are adapting to e-commerce rapidly with mobile first consumer behavior and improved digital payments infrastructure. In developed countries of North America and Europe, e-pharmacy is a flourishing market and is also structured, where the medicines are prescribed by doctors and tracked through barcoding to ensure systematic supply.

    In India however, we have over eight lakh pharmacies, with pharmacies available every few kilometers.  The e-pharmacies and healthcare companies have only recently grown in India because of Covid 19, improved Internet reach and smartphone penetration. The Indian e-pharmacy industry is some of well-known names in the market are Netmeds, EasyMedico and MedLife.

    The growth of e-pharmacy in India

    They are many startups that have also come up in the industry such as 1mg, Practo and Myra, even big retail stores like Apollo pharmacy have introduced their e-pharmacy segment.

    In Indian pharmaceutical market is the third largest in terms of volume and 13th largest in terms of value. According to EY, the online pharmacy market in India is estimated to reach $2.7 billion by 2023 from $360 million which it is currently at.

    In India, the retail pharma market is divided into 3 broad segments which are generic drugs, over the counter (OTC) drugs and patented products. Some of the country’s largest conglomerates and multinational e-commerce companies are looking to invest and get a foothold in this sector. For example Amazon has recently invested over $100 million in the largest Indian pharmacy chain Apollo Pharmacy.

    In 2020, Reliance Retail invested Rs 620 crore to get a majority stake in Netmeds which is a chennai based startup. Tata group also acquired a a major stake in 1mg, while LGT Group and CDPQ the Canandian pension fund acquired Medlife in 2020. Even Pharmeasy is backed by the Singapore Temasek Holdings along with TPG a private equity firm from US.

    How Online Food Delivery Startups are dealing with CoronaVirus Outbreak?
    The Coronavirus or COVID-19 which started last year in December in Wuhan, Chinahas impacted the global economy and no industry sector has remained immune toit. All businesses, startups and industries across the globe are coming up withsafety measures to deal with the virus like asking employees t…
    StartupTalkyVarad Kitey

    Reasons behind the growth of the E-pharmacy Industry in India

    Internet reach and smartphone penetration

    In 2021, India has a wider internet reach because of the affordable prices of the smartphones and deployment of 4G provided by telecom providers like Reliance Jio. According to a report the number of internet users in India is said to reach 600 million by 2025. The government has also launched Digital India Program which is helping in improving broadband connectivity across the country.

    Government initiatives

    The Digital India Program was started by the government to digitally connect every corner of India including the rural areas and remote villages with high speed internet. The aim of this campaign was to empower citizens to gain knowledge and use the government services easily and to make people interact with the government.

    Along with that, the Jan Aushadhi Program is introduced in order to ensure that the general population has access to quality and affordable medicines.

    Top pharma companies in India

    The increased preference towards online shopping

    In the times of global pandemic, online shopping has gained a lot of popularity. This is because it is more convenient to get products delivered at home, while abiding the lockdown restrictions. Online shopping for essentials and medicines is growing at a fast pace.

    Growing awareness about fake drugs

    E-pharmacy has more stringent tracking mechanism when it comes to eliminating middlemen and the risk of counterfeit and sub-standard drugs.

    The change in the disease patterns in India

    In the last 25 years, the focus has shifted from communicable to non-communicable diseases. The disease pattern has shifted towards chronic diseases which has also lead to the increase in the demand for daily medicines. E-pharmacies provide medicines to the chronic disease patients at a lower cost than compared to retail pharmacies.

    Better healthcare financial services

    There has been a steady growth in the Indian financial industry, there are now better options for health insurance policy, life insurance policy, family and retirement plans, cashless claims and ease of accessing them online. These services have increased the healthcare spending which, in turn, has benefitted the online pharmaceutical industry.

    The increase in domestic demand

    There is an increase in the domestic demand because of growth of in capita income, changes in lifestyle due to urbanization and rise in literacy levels. Which is why the demand for advanced medical treatment is expected to increase along with the demand for pharmaceutical products.

    Reasons Why These Startup Sectors Bloomed During Lockdown
    In the unprecedented time, where everyone is talking about the economic slowdownand financial difficulties, there have been a few startups sectors that havemanaged grow exponentially well. The covid 19 has shaken the world and hasbrought many business to a halt, although startups have lost their …
    StartupTalkyPV Vyshnavi

    Benefits of E-pharmacy in India

    Convenience for consumers

    E-pharmacy is more convenient than compared to retail pharmacy stores especially in the time of a global pandemic as the people can order their medicines from the comfort of their homes through any gadget that supports internet. This is also helpful for the elderly and patients that may not be in a condition to go find a pharmacy store.

    Increased accessibility

    Some medicines are hard to find in retail pharmacy stores, which is why e-pharmacy makes it more accessible to find those medicines. Retail Pharmacy only have limited stock and are expensive making it difficult for the people from the rural areas to buy medicines. E-pharmacies make it more accessible for the rural population to buy medicines.

    Benefits of E-pharmacy
    Benefits of E-pharmacy

    Lower cost

    The biggest advantage of e-pharmacy is that it provides medicines at a lower cost because it has small working capital, less overhead costs, increasing margins.

    E-pharmacy provides improved information

    E-pharmacies usually provide value added information to consumers such as the side effects, medicine reminders, information on cheaper substitutes. It also links it to medical resources like universities, government agencies and other health association.

    Authentic medicines

    All medicine purchases through e-pharmacy platforms are stored digitally, making it easy to track the supply chain. This reduces the risk of fake medicines, drug abuse, and even self-medication.

    Market Growth Of Online Doctor Consultation During Lockdown
    In an era, where everything is available at the click of a button it is nosurprise that even a specialist doctor or a clinical examination could be doneonline. Online doctor consultation is a coveted field in India and is able tooffer services like telehealth, telemedicine, telecare, and digital …
    StartupTalkyPV Vyshnavi

    Challenges of the E-pharmacy Industry

    The e-pharmacy market in the country is unregulated, this is because of the absence of a clear regulatory framework from India’s policymakers. The industry must be regulated because it involves the health of people.

    The investors who invest in the e-pharmacy companies are also concerned about the lack of regulations in the sector. This is why a set of regulations for e-pharmacy must be implemented at the earliest.

    Lack of technical Infrastructure

    The key factor behind the success of any industry is a strong technical infrastructure. Even though smartphone and internet penetration rates are increasing, the rural population still don’t know about e-pharmacy and how to use it.

    No awareness in the rural areas

    There is huge gap between the rural population and online services like e-pharmacy. This is because people in the rural areas and remote villages lack internet connectivity and still don’t have gadgets that can access internet leading to poor connectivity.

    E-pharmacies is unfavorable in the times of emergency

    The one disadvantage of e-pharmacy is that when medicines are needed in emergency retail pharmacies, as e-pharmacies take more time from ordering to the delivery of the medicines. Hence why e-pharmacies are more suited for pre-planned purchases only.

    An Overview Of The Telemedicine Industry In India
    The Covid 19 outbreak has created many challenges on traditional healthcaresystems, as citizens have not been able to consult with the doctors physically. The telemedicine industry is expected to create more than $5.4 billion marketopportunity by 2025. Practo and DocPrime, mFine, CallHealth and L…
    StartupTalkyPV Vyshnavi

    Top 6 e-pharmacy apps/websites in India

    Netmeds

    Netmeds is currently one of the biggest players in the e-pharmacy industry. It provides a huge variety of medicines, healthcare products and drugs. It is one of the most popular Indian website to buy medicines online.

    The company was founded in 2015 and now has a pan India presence, offering prescription, over the counter drugs and wellness products. The customers can set up their subscription for the medicines to be delivered every month and buy healthcare products such as skincare, family care, and baby care among others.

    Practo

    Practo is one of the most reliable online medical stores. It also has a huge catalog of medicines and healthcare products. The app offers its services to more than 100 cities and also connects millions of patients with thousands of healthcare providers around the world.

    The company was founded in 2009 and has over 1,00,000 listed doctors from 310 towns and cities. The app also offers its customers to have an automated prescription refill option, allows them to check their medicine order and reorder what they want.

    Top e-pharmacy websites in India
    Top e-pharmacy websites in India

    1mg

    1mg is the country’s leading digital consumer healthcare platform. This app offers its delivery services to more than 1000 cities across the country. Its customers can order medicines and health products through the website and get it delivered at home from licensed pharmacies.

    It also provides accurate and trustworthy information on medicines. The best part about the app is that the customers can enter the names of the medicines needed and get cheaper alternatives with the same compound. The app also offers health tips according to the medicines you order.

    PharmEasy

    PharmEasy is a well-known health tech startup that offers services such as online doctor consultation, medicine deliveries and diagnostic test sample collection. PharmaEasy offers more than 1 lakh products and even delivers it within 24 to 48 hours across 1.2k plus cities all across India. The app allows schedules reminders monthly and even cash on delivery services.

    Apollo Pharmacy

    Apollo Pharmacy offers more than 5000 products in various categories online and is also accredited an international quality certification. Apollo pharmacy over 3500 plus offline pharmacy outlets across the country.

    The advantage of ordering medicines from Apollo is that the customers can order it 24/7 and get the medicines delivered on time and at their doorstep.

    Medlife

    Medlife is another popular online pharmacy in India that was founded in 2014. Medlife is easier for ordering medicines as the customers can just upload their prescription, confirm it on call and get the medicines delivered at their doorstep. If the customer does not have a prescription, they can also consult a Medlife doctor.

    Doctor Insta Company Profile – Founder | Funding | Business Model | Revenue
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. We are often left in awe as to how digitization has changed the way we live andcarry out our basi…
    StartupTalkyRishabh Rathi

    Frequently Asked Questions

    What are the top 6 e-pharmacy companies in India?

    Netmeds, Medlife, Apollo Pharmacy, PharmEasy, and Practo are the top 6 e-pharmacy companies in India.

    What are the challenges faced by the E-pharmacy Industry in India?

    E-pharmacies is unfavorable in the times of emergency, No awareness in the rural areas, Lack of technical Infrastructure and Legal challenges are some of the challenges faced by the E-pharmacy Industry in India.

    What are the benefits of E-pharmacy in India?

    Convenience for consumers, Increased accessibility, Lower cost, Improved information e-pharmacy and Authentic medicines are the benefits of E-pharmacy in India.

    What are the reasons behind the growth of the E-pharmacy Industry in India?

    Internet reach and smartphone penetration, Government initiatives, The increased preference towards online shopping, Growing awareness about fake drugs, The change in the disease patterns in India, Better healthcare financial services and are the reasons behind the growth of the E-pharmacy Industry in India.

    How big is the e-pharmacy industry in India?

    In 2021, the e-pharmacy market in India is estimated to be over $512 million in 2018 and is estimated to grow at a CAGR of 63% to reach $3,657 million by 2022.

    Conclusion

    With the current situation of the global pandemic and the changing seasons, online pharmacies are the best option to buy your medicines. As the people will not have break the lockdown restrictions and go out to buy medicines from the local medical store.

    Online pharmacies are more convenient as the medicines are delivered safely and at the comfort of your home. E-pharmacy is cheaper than compared to the retail pharmacies and it’s also offers discounts and cashback. The industry is said to increase two-fold in coming years and become one of the biggest industries.